Ameriprise Financial, Inc. $AMP Shares Sold by RFG Advisory LLC

RFG Advisory LLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 79.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 796 shares of the financial services provider's stock after selling 3,159 shares during the quarter. RFG Advisory LLC's holdings in Ameriprise Financial were worth $365,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Ameriprise Financial by 18.1% in the 2nd quarter. IFP Advisors Inc now owns 1,227 shares of the financial services provider's stock valued at $563,000 after purchasing an additional 188 shares during the last quarter. Waverly Advisors LLC boosted its position in Ameriprise Financial by 87.2% during the second quarter. Waverly Advisors LLC now owns 6,263 shares of the financial services provider's stock worth $2,873,000 after acquiring an additional 2,917 shares during the last quarter. Bank OZK grew its stake in Ameriprise Financial by 10.3% during the 2nd quarter. Bank OZK now owns 7,394 shares of the financial services provider's stock valued at $3,392,000 after acquiring an additional 688 shares in the last quarter. Empirical Finance LLC raised its holdings in Ameriprise Financial by 2.9% in the 2nd quarter. Empirical Finance LLC now owns 3,632 shares of the financial services provider's stock valued at $1,666,000 after acquiring an additional 102 shares during the last quarter. Finally, Nykredit A S purchased a new position in Ameriprise Financial in the 2nd quarter worth approximately $16,207,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent research reports. Jefferies Financial Group increased their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a report on Friday, July 10th. Morgan Stanley lifted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a report on Friday, July 10th. Weiss Ratings raised shares of Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 3rd. Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $555.33.

Ameriprise Financial Price Performance

AMP stock opened at $558.52 on Tuesday. The business's fifty day moving average price is $545.64 and its 200 day moving average price is $488.72. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $572.56. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $50.21 billion, a PE ratio of 13.47, a P/E/G ratio of 1.00 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating analysts' consensus estimates of $10.81 by $0.26. The company had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.Ameriprise Financial's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $9.11 EPS. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a $1.70 dividend. The ex-dividend date was Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial's payout ratio is 16.40%.

Insider Buying and Selling at Ameriprise Financial

In related news, insider William Williams sold 8,210 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the sale, the insider directly owned 6,780 shares of the company's stock, valued at $3,656,793. This represents a 54.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dawn Brockman sold 472 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $558.93, for a total transaction of $263,814.96. Following the sale, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This trade represents a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 29,988 shares of company stock worth $16,316,497. 0.60% of the stock is currently owned by company insiders.

About Ameriprise Financial

Ameriprise Financial, Inc NYSE: AMP is a diversified financial services company that provides financial planning, investment advice, wealth management and retirement solutions to individuals and institutions. Its offerings include brokerage and advisory accounts, managed investment portfolios, banking services, annuities, life insurance and other protection products.

The company serves clients primarily in the United States through its network of financial advisors and branded businesses, including Ameriprise Financial and RiverSource.

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